Tata Capital's arm plans to raise Rs 6,000 cr via NCDs

Tata Capital Financial Services (TCFS), a subsidiary of Tata Capital and also a new banking licence aspirant, is planning to raise around Rs 6,000 crore via Non-Convertible Debentures (NCDs) to fund its investment operations in the coming months, said a media reports.

Analysts said that the move, which comes at a time when TCFS is preparing to apply for bank licence, might help the company consolidate its position in the industry before applying for the bank licence.

TCFS had raised Rs 1,000 crore in December last year, said the report adding that it received good response from institutional investors like Life Insurance Corp of India, General Insurance Corp of India.

The company is in line with Birlas, L&T, Sriram Group to get the banking licence from Reserve Bank of India.

Read more about: tata capital, ncd
Story first published: Thursday, April 4, 2013, 13:30 [IST]
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